30 September 2015

Orogen Gold plc

("Orogen Gold" or the "Company")

Interim Results for the six months ended 30 June 2015

Orogen Gold plc (AIM: ORE), the AIM quoted gold exploration company, announces its interim results for the six months ended 30 June 2015.

Enquires:

Orogen Gold plc                                                                                               +353 1662 8395

Colin Bird, CEO

Alan Mooney, FD

Cairn Financial Advisers LLP (Nominated Adviser)                           +44 (0) 20 7148 7900

Avi Robinson/ Liam Murray

Beaufort Securities Limited (Broker)                                                      +44 (0) 20 7382 8300

Elliot Hance

Walbrook (Public Relations and Investor Relations)                       +44 (0) 20 7933 8780 

Paul Cornelius/ Guy McDougall

About Orogen Gold

Orogen Gold plc is a UK public company quoted on the London Stock Exchange AIM market (ticker: ORE).  The Company is focused on mineral exploration and development in Europe and is currently operating two gold exploration projects: a) at Mutsk in Armenia and b) at Deli Jovan in Serbia. The Mutsk gold project in Armenia was optioned by Orogen early in 2013 to follow-up reports of a new epithermal discovery within an established gold district.  At Deli Jovan the historic high-grade gold mining camp was last in production prior to World War II and has been significantly under-explored in modern times. The Mutsk project has been prioritised by the Company due to the clear potential evident on the property.

Chairman's statement

Decreasing commodity prices over the past year has meant that funding for exploration companies continues to be difficult. A large number of projects are competing for investment in a commodity bear market and in these circumstances it is particularly difficult to raise new finance for investment. The Board however are not deterred by current conditions and are structuring to take advantage of the many opportunities that the current conditions present.

Operations

Mutsk in Armenia has proved to be a potentially large, low grade gold discovery that requires a substantial exploration and drilling campaign to demonstrate the scale of the discovery and define a mineral resource to JORC or equivalent standard. The investment involved is substantial and in the current climate it may not be possible to raise the necessary funding to develop the project as our geological team would wish. Nonetheless we intend to secure our interest in this project which has the potential to be a high value asset. In that regard we can report that the Mutsk exploration permit, which has been extended until July 2017 by the Armenian Ministry of Energy and Natural Resources, following submission of a report on work completed on the property.

We have completed our exploration work at Deli Jovan in Serbia. We have determined Deli Jovan as a narrow vein high grade gold project with intermittent continuity that does not lend itself to definition of large scale resources through very detailed drilling. The Deli Jovan system may however prove amenable to a small scale direct mining approach.

Agreeing firm commitments from potential partners to the necessary investments on our projects represents a challenge in the current depressed resource markets. However, we are in discussions with a number of parties interested to participate in the development of our projects and these discussions are continuing.

Financial and Corporate Review

At 30 June 2015 cash stood at £851,000 (31 December 2014: £1,118,000). The loss for the period amounted to £181,000 (6 months to 30 June 2014: £214,000). The Company has reduced general and administrative costs by 16% from the corresponding 6 month period and these costs have been reduced further in the period after the reporting date.

Board Changes

Concurrently with the issue of this Interim Report, the Company has separately announced changes to the board, specifically the appointment of Colin Bird as CEO with Ed Slowey taking up the role of Operations Director and Anthony Venus stepping down to pursue other business interests. Colin Bird is an experienced and established public company director and has been responsible in successfully developing several minerals exploration projects around the world.

Outlook

The Board is constantly reviewing quality projects against a difficult market. We intend to be pro-active in the development of our company and we look forward to updating shareholders in due course.

ADAM REYNOLDS                                                                                                           

Non-Executive Chairman                                                                                            

29 September 2015

Consolidated statement of profit or loss and other comprehensive income

For the six months ended 30 June 2015

Consolidated statement of financial position

As at 30 June 2015

Consolidated cash flow statement

For the six months ended 30 June 2015